Londoners’ festive travel and spending plans revealed

HSBC has unveiled a revealing snapshot of how Londoners are gearing up for Christmas and New Year through a survey of over 2,000 UK adults. The results shed light on everything from travel aspirations to the rising popularity of gifting experiences, offering a fascinating perspective on the capital’s festive spirit.

This year, a notable 33% of Londoners plan to escape the city for the holidays, with America emerging as the dream destination for 23% of those heading abroad.

When it comes to planning, Londoners book their seasonal getaways an average of three months in advance. This early preparation reflects a desire to secure the best options for their festive travels.

Spending is also at the heart of Londoners’ plans, with residents budgeting an impressive £1,448 on travel alone. Beyond their journeys, Londoners are setting aside an average of £823 for Christmas expenses, covering everything from gifts and decorations to the all-important Christmas dinner.

One of the most intriguing trends this year is the growing interest in gifting experiences. 40% of Londoners expressed an interest in presenting a trip or an experience as a Christmas gift, highlighting the appeal of creating memories over traditional presents.

From American adventures to experience-driven gifting, Londoners are embracing the festive season with enthusiasm, proving once again that the capital knows how to celebrate in style.

Adrija Biswas, HSBC UK’s Head of Global Money, FX and Payments, commented: “Holidays are topping people’s priority lists this festive period, with lots of people leaving the country over Christmas, and also choosing to gift trips away to loved ones as gifts.

“With one in four having plans for a festive getaway, we are also seeing a trend of ‘impulse travel’ – where spontaneous trips are being booked and paid for a month or less in advance. With the average festive trips coming in at over £1,300, this is a significant expense to commit to at short notice, which is why it’s important for festive jetsetters to ensure they’re not paying unnecessary fees and charges on their transactions while on their Christmas getaway.

“With no HSBC fees on card spend or ATM withdrawals abroad, Global Money helps customers avoid unexpected costs and makes it easier to maximise your holiday budget during what we all know is the most expensive period of the year.”